Global m-cap hits $100 trillion for first time ever
In what qualifies as a historic benchmark, the total value of all stocks listed in the world trumped the $100 trillion mark last week. On December 5, the global market capitalization stood at $100.5 trillion. In March, the global m-cap fell to $61.6 trillion, a number not seen since 2016. A steep recovery of nearly 63% has been noticed since that month.
US has an m-cap of $41.6 trillion
The US is leading the race as the value of its stocks were pegged at $41.6 trillion, when trading closed last week. China's m-cap stood at $10.7 trillion and India's at $2.4 trillion. Japan's m-cap grew from $6.3 trillion to almost $6.8 trillion, but its share in the global picture went from 7.2% to a little over 6.7%.
Tech companies like Facebook, Apple, led the surge
Tech stocks, like Facebook, Apple, Amazon, Netflix, Google, and Microsoft, in the US are believed to have played a major role in this spike. At the beginning of the year, the share of the US was 39.5%. The country now leads the global market cap table with over 41.6% share. China went from 8.4% at the beginning of the year to 10.7% now.
Canada unseated Saudi Arabia to take the eighth position
As per reports, Canada emerged as the only nation to improve its position on the global charts. It improved its place from eight to seven, replacing Saudi Arabia. The Kingdom's position worsened primarily because Aramco's m-cap remained the same as it was at the beginning of 2020. Barring the US and China, other countries in the top 10 m-cap league lost shares.
